Ruffer Bets on 'Violent' Surge for World's Worst Currency This Year
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Ruffer Investing is betting on a surge in the Japanese yen, the world's worst performing currency this year.
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Though Ruffer's fund has seen poor performance in 2022, it expects the yen will "violently" appreciate soon.
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Ruffer earned the nickname "50 Cent" for its past profitable volatility bets.
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The fund believes forced buying of the yen will combine with forced selling of foreign currencies, catalyzing the yen's turnaround.
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Ruffer expects the Bank of Japan will have to eliminate yield curve controls, driving Japanese buyers to finance bond purchases by selling foreign assets.